Southern California Edison (SCE) announced it will redeem all outstanding shares of its Series J Preference Stock, leading to the redemption of all outstanding 5.375% Fixed-to-Floating Rate Trust Preference Securities issued by SCE Trust IV. The redemption is scheduled for December 18, 2025.
The redemption price will be $25 per Trust Preference Security, in addition to any accrued and unpaid distributions up to but not including the redemption date. The calculation of these distributions from December 15, 2025, through December 17, 2025, will include a spread adjustment of 3.39361% added to the three-month term Secured Overnight Financing Rate (SOFR) determined as of December 11, 2025.
For securities held through The Depository Trust Company (DTC), redemptions will follow DTC procedures. Holders with securities in brokerage accounts are advised to contact their brokers with questions. For those holding certificates outside DTC, securities must be surrendered to The Bank of New York Mellon at its Pittsburgh address to receive payment.
According to SCE, “On and after the redemption date, all of the outstanding Trust Preference Securities shall be deemed no longer to be outstanding, distributions on the Trust Preference Securities shall cease to accrue and all rights with respect to the Trust Preference Securities called for redemption will thereafter cease and terminate at the close of business on the redemption date, except only the right of the holders to receive the redemption price, but without interest, upon surrender of their Trust Preference Securities.”
Any questions or requests for additional copies regarding this notice can be directed to The Bank of New York Mellon at 312-827-8683.
The company emphasized that “This news release does not constitute an offer to sell or a solicitation of any offer to buy such securities nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.”
Southern California Edison is a subsidiary of Edison International and is among the largest electric utilities in the United States. It serves around 15 million people through approximately five million customer accounts across a service area spanning about 50,000 square miles in Central, Coastal and Southern California.
